Everyone needs to bank and nearly everyone has a relationship with at least one financial institution. Financial Institutions need relationships with consumers too, in order to thrive as businesses. The role these relationships play in financial decision making for Canadians is an important...
This report responds to a call made by APEC Finance Ministers at their 23rd Ministerial Meeting in Lima in 2016 to advance “the design and implementation of financial literacy policies building on the expertise and standards developed by the OECD International Network on Financial...
The Investor Protection Clinic, the first clinic of its kind in Canada, provides free legal advice to people who believe their investments were mishandled and who cannot afford a lawyer. The Clinic was founded together with the Canadian Foundation for Advancement of Investor Rights (FAIR Canada),...
Dealing with debt collection issues can be challenging—especially when you’re not sure if the person you’re being contacted by is a legitimate debt collector or someone trying to scam you. This video from the Consumer Financial Protection Bureau in the United States shares useful tips on...
This brief raises consumer perspectives on financial technology (fintech), and offers guidance for fintech developers on how to best serve low- to moderate-income...
Firms and representatives in the financial services industry occasionally encounter situations where a client’s vulnerability causes the client to make decisions that are contrary to his or her financial interests, needs or objectives or that leave him or her exposed to potential financial...
Pour souligner leurs 50 ans d’histoire, les Associations de consommateurs du Québec s’unissent pour offrir à la population québécoise un portail qui rassemble toute une gamme d’informations et d’outils développés au fil des années grâce à leur expertise en finances...
Scammers are sneaky and sly. They can target anyone, from youngsters to retirees. They can also target businesses. No one is immune to fraud. Our group of superheroes has found a way to see through the scams. Their secret is simple: knowledge is power! Read this booklet to find out how you can...
This is a companion guide to the 'Your Money, Your Goals' curriculum by the Consumer Financial Protection Bureau (CFPB) in the United States. This guide- Your Money, Your Goals: Focus on People with Disabilities—contains information, tips, and tools based on the insights from people with...
Developed in response to a call from G20 Leaders in 2013, the core competencies frameworks on financial literacy highlight a range of financial literacy outcomes that may be considered to be universally relevant or important for the financial well-being in everyday life of adults and youth. These...
This is ACORN Canada's debt and high-interest lending resource portal. It contains links and resources on debt, credit, banking, and other...
Canadian investors need more and better information to protect themselves both when they act on their own and when they retain lawyers. This handbook is intended to help Canadian investors better understand the choices they face when making a complaint and the impact of those choices. It can also...
Financial Empowerment is an integrated set of interventions proven to measurably improve financial outcomes for people living in poverty. This brief from Prosper Canada recommends nine financial empowerment strategies that can help reduce poverty by being integrated into poverty reduction...
This handout is from Module 9 of the Financial Literacy Facilitator Resources. Examples of how to deal with consumer problems. To view full Financial Literacy Facilitator Resources, click...
This webinar, "High cost lending in Canada: Risks, regulations, and alternatives," is about why high cost lending products are concerning, especially for financially vulnerable Canadians. Speakers discuss what is driving the use of these products, what kind of regulations are involved, and what...
To give Canadians a better understanding of the impact fraud has on the marketplace, Fraud Facts 2017 provides a snapshot of the different types of scams that are currently affecting Canadians and what you can do to fight back. An informed consumer is a smart consumer and that is exactly what...
This report presents the results of the Survey of Consumer Views on Debt (“survey”) which was conducted by the Consumer Financial Protection Bureau (“Bureau”) between December 2014 and March 2015. The survey results substantially expand the understanding of debt collection in the United...
This paper analyzes findings from a survey by ACORN Canada of a sampling of its membership to understand why they turn to alternative financial services such as high interest payday loans. The survey finds that the majority of the 268 respondents turn to these services as a last resort because they...
Many initiatives are underway focused on teaching kids what people feel they should know about money. But, to our knowledge, no one has ever reached out broadly to ask youth what they want to learn about – what they are interested in – the challenges they face – and how they would like to...
Payday loans are an expensive way for consumers to borrow money. The use of these short-term, high-cost loans has more than doubled in Canada recently to four percent of Canadian households. The Financial Consumer Agency of Canada (FCAC) has been tasked with raising public awareness about the costs...
To find the best deal when you buy a financial product or service, follow the SAVED steps: 1. STOP for a mental break before making a decision. 2. ASK questions about costs and risks. 3. VERIFY and check what you’re told. 4. ESTIMATE your costs. 5. DECIDE whether the costs and value are...
The CFPB has undertaken a broad array of education initiatives this year, as well as continued or expanded upon prior initiatives. These initiatives are described in more detail in various sections of this report. The CFPB’s financial education research is focused on identifying the knowledge,...
This paper argues that the pursuit of financial literacy poses costs that almost certainly swamp any benefits. For some consumers, financial education appears to increase confidence without improving ability, leading to worse decisions. When consumers find themselves in dismal financial straits,...
This Debt Management Guide was created to assist volunteers at WoodGreen’s groundbreaking Debt Management Clinic, who meet one-on-one with community members to educate them on their options. It is now available for social services staff who want to know how to help clients deal with...
Financial literacy programs are fast becoming a key ingredient in financial policy reform worldwide. Yet, what is financial literacy exactly and what do we know of its effectiveness? This paper collects insights from the literature thus far and summarizes global evidence, on financial literacy, its...